The conversion of low-cost commodity chemicals such as DMK to high-value chemicals such as branched monoalchols, diols, α,β-unsaturated aldehydes, and α,β-unsaturated ketones is important for the industry. IPA is used as a solvent and for manufacturing different chemicals such as isopropyl amines and ethers. IPA has also other applications in medicine and industry. Several catalysts have been used for hydrogenation of DMK in the liquid-phase to produce IPA. An activated supported ruthenium catalyst was tested for the production of IPA via direct hydrogenation of aqueous DMK stream in the liquid phase (U.S. Pat. No. 5,495,055). A process and catalyst, which is capable of producing IPA by controlling the reaction conditions to make it economical, would be desirable for industry.